Farther Finance Advisors LLC Sells 391 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Farther Finance Advisors LLC trimmed its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 17.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,915 shares of the technology company’s stock after selling 391 shares during the quarter. Farther Finance Advisors LLC’s holdings in Pegasystems were worth $178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Pegasystems by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company’s stock valued at $783,000 after acquiring an additional 141 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after acquiring an additional 149 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Pegasystems by 1.2% during the 4th quarter. Arizona State Retirement System now owns 12,394 shares of the technology company’s stock valued at $1,155,000 after acquiring an additional 152 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of Pegasystems by 4.9% during the 4th quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company’s stock valued at $435,000 after acquiring an additional 219 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

Insider Transactions at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the transaction, the insider now owns 56,534 shares of the company’s stock, valued at approximately $4,084,581.50. This represents a 3.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $93.83, for a total value of $70,560.16. Following the transaction, the insider now directly owns 37,973 shares in the company, valued at $3,563,006.59. The trade was a 1.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,543 shares of company stock valued at $6,253,614. 50.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PEGA shares. Barclays lowered their target price on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. StockNews.com lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Rosenblatt Securities increased their price target on Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Citigroup increased their price target on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and an average price target of $99.36.

Pegasystems Stock Up 2.0 %

PEGA stock opened at $72.66 on Thursday. The business’s fifty day simple moving average is $90.76 and its two-hundred day simple moving average is $85.40. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 71.94 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. Research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.